Bitcoin (BTC) exceeded $100,000 in the morning hours, marking a historic moment, and the rise is expected to continue.
While there are different price predictions for BTC at this point, on-chain data platform IntoTheBlock stated that Bitcoin's cycle top is expected to be between $130,000 and $190,000.
IntoTheBlock, in a post from the X account, stated that Bitcoin has exceeded $100,000 and said that the rise could potentially continue due to Bitcoin's limited supply and significant interest from large investors.
However, IntoTheBlock analysts noted that historically, returns have steadily declined after each halving cycle and announced their predictions.
Analysts say some believe Bitcoin could reach $1 million, but IntoTheBlock says that following the recent halving, returns will likely range between 100% and 200%, with a more reasonable estimated price range being between $130,000 and $190,000.
IntoTheBlock analysts added that if Bitcoin becomes part of global reserve assets, the price range could rise even higher.
“Bitcoin has crossed $100,000! A major milestone, so what's next?
It is important to note that each cycle clearly has diminishing returns, as 2013 showed a 7900% return rate; 2017 – 2560%; 2021 – 594%.
While some expect a million dollars per Bitcoin, a more reasonable expectation would be a 100%-200% return on the halving price, placing the top between 130k and 190k.”
https://twitter.com/intotheblock/status/1864546855050186894
*This is not investment advice.
